JP Morgan launches capital-at-risk dual directional note linked to S&P 500

The big increase in the popularity of dual directional notes such as this JP Morgan US product linked to the S&P 500 is based on the possibility of returns in markets that have moderate rises or falls, but investors must beware the barriers


JP Morgan has released a one-year dual directional product based on the performance of the S&P 500 index, subject to a 15% cap and an 80.7% barrier. If the final level of the S&P 500 is higher than the strike level, investors will receive returns equal to the rise in the index, but the cap means that, even if the underlying performs better than 15%, investors will not benefit beyond that level.

Thanks to the mirror structure of dual directional notes, investors have the opportunity to receive

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